KuCoin, a prominent cryptocurrency exchange, has expanded its ecosystem with the latest launch of KuPool, a state-of-the-art mining pool service designed to provide a secure, efficient, and transparent mining experience for users.
Leveraging the expertise of mining veteran Chris Zhu, former co-founder of BTC.com and Poolin, KuCoin envisions democratising access to cryptocurrency mining with the launch of KuPool. The platform’s innovative approach focuses on verifiable hashrate, ensuring a transparent and trustworthy mining process.
By integrating with KuMining and the KuCoin exchange, KuPool creates a comprehensive ecosystem that streamlines hashrate generation, mining, and asset management. With support for mainstream cryptocurrencies like Litecoin, Dogecoin, and soon Bitcoin, KuPool is poised to revolutionise the mining space, embodying KuCoin’s refreshed brand vision of “Trust First. Trade Next.”
Unveiling KuCoin’s KuPool Launch
In the latest development within the crypto mining industry, KuCoin announced the rollout of KuPool, a new mining pool service that supports assets like Dogecoin and Litecoin, with plans to add Bitcoin support eventually. The platform currently supports a range of popular cryptocurrencies, including LTC, DOGE, PEPE, Lucky, and BELLS, with Bitcoin mining on the horizon.
KuPool will integrate with KuCoin’s existing crypto exchange and its KuMining feature, providing users with a secure mining service within the KuCoin ecosystem. This integration aims to offer a seamless and secure mining experience for users, leveraging the strengths of KuCoin’s platform and KuMining feature. KuPool Head Chris Zhu noted,
“KuPool not only inherits the technical excellence and professional advantages of traditional mining pools but also redefines the mining industry’s structure through transparent, compliant, and financialized operations. With KuCoin’s global ecosystem and our team’s extensive experience, we are committed to delivering cutting-edge mining services and verifiable, trusted returns.”
Zhu added that as a new mining pool service under the KuCoin ecosystem, KuPool is distinguished by its trust-based verifiable hash rate mechanism and deep integration with KuCoin and KuMining.
Trust Centric Approach
KuPool is built on the principles of KuCoin’s refreshed brand vision, “Trust First. Trade Next,” prioritising verifiable hashrates as its core framework. By utilising transparent and secure verification processes, KuPool establishes trust in hashrate as a valuable asset. This fully embodies the platform’s philosophy- “Verified Hashing, Trusted Mining.” A spokesperson stated,
“Specifically, KuPool positions ‘verifiable hash rate’ as the core trust asset, employing an efficient, low-latency, and traceable profit-sharing mechanism to ensure global miners receive fair and auditable reward distributions.”
Leveraging KuCoin’s robust infrastructure, including secure asset management and regulatory compliance, KuPool features multi-layered encryption, real-time monitoring, and stringent operational safeguards. This approach reflects KuCoin’s commitment to trust, encapsulated in its ethos, “Trust is the Currency We Trade In.”
The spokesperson noted, “Trust-based mining represents more than mere technological innovation; it is an extension and practical embodiment of its core brand philosophy.” They added,
“In the context of KuPool, trust-based mining manifests as the foundational support for transforming hash rate into credible assets: Miners can verify their contributions and rewards in real time, mitigating information asymmetry, while the platform integrates multi-layered encryption and compliance standards to ensure asset security.”
How DOGE and LTC React to KuCoin’s KuPool Launch?
According to CoinMarketCap data, both DOGE and LTC have shown a marginal surge following the KuCoin announcement, trying to recover from the recent market crash. As of press time, Dogecoin is trading at $0.1930, up by 0.53% in a day. But, over the past week and month, the memecoin has seen notable downticks of 3.61% and 20%, respectively.
At the same time, Litecoin has seen a marginal increase of 0.3% increase over the last 24 hours. Despite this recovery, the crypto is still down by 3.36% and 12.5% over the past week and month, respectively.
